Inhoudsopgave van 2025-11-19 - Cape Times

Ascendis Health on Tuesday announced that the vast majority of its shareholders have voted in favour of delisting the company from the main board of the JSE, marking the next phase of its successful strategic turnaround and growth journey. Shares in Ascendis Health, which is a South African health and wellness investment holding company were unchaned on the news. Ascendis Health first proposed delisting from the JSE on June 29, 2023 Of the shareholders who took part in the vote, almost 93% voted in favour of delisting. The holders of a majority of Ascendis shares have also indicated to Ascendis Health’s management that they want to remain on as shareholders after the delisting, showing strong support for the strategic direction that has been charted by the Ascendis management to…

THE Government Employees Pension Fund (GEPF) delivered a resilient per-formance in the year ended 31 March, growing its assets to R2.7 trillion from R2.38 trillion and achieving a 14.1% investment return, despite a year marked by economic uncertainty both at home and abroad. The Fund maintained a strong 119% funding level, underscoring its long-term financial sustainability. Global markets were strained by ongoing geopolitical tensions, elevated energy costs and persistent inflation. Domestically, South Africa continued to grapple with sluggish GDP growth, structural bottlenecks and sectoral underperformance. However, improvements such as reduced load shedding and the formation of the Government of National Unity supported a modestly more stable economic environment. The GEPF said the introduction of the Two-Pot retirement system, which allows limited early access to pension savings, also had a noticeable…

South Africans are heading into the festive season under the heaviest financial strain seen in nearly a decade, according to the DebtBusters Q3 2025 Debt Index, released on Tuesday. The report shows that 95% of people who applied for debt counselling in the third quarter relied on a personal loan, while 22% used overdraft facilities regularly — the highest levels ever recorded. Benay Sager, executive head of DebtBusters, said the results confirm a troubling deterioration in households’ financial resilience. “Those who applied for debt counselling are now using an unsustainable 70% of their take-home pay to service debt – which is the highest level recorded in the last eight years,” he said. Sager added that successive interest rate and petrol price reductions have helped consumers better deal with debt; however,…

South Africa’s unemployment rate, currently at 32,9%, represents not merely a statistical indicator but a profound socio-economic crisis with far-reaching human consequences. For our nation, 32.9% means that 8.2 million people, including 62.4% of young South Africans aged 15 to 24, are unable to support themselves or their families. It means millions of our youth, our breadwinners, our graduates, and our entrepreneurs are locked out of the economy growing at a paltry 0.8%. And yet, in the midst of this socioeconomic pressure, South Africa’s offshore petroleum potential remains largely untapped. This is not due to lack of resource, capability, or need, but because of a global narrative that increasingly penalises countries like ours for trying to grow. This must change. Before 1949, Qatar was one of the poorest nations in…

The South African savings industry continued its long-term trend of contraction in 2025 as consumers remained under pressure and unemployment continued to rise, while the Two-pot Retirement System added to the structural headwinds. This was according to the chairman of one of the largest private sector asset management firms, Saks Ntombela, and the CEO, Anton Pillay, who were commenting at the release of the 52% black-owned Coronation Fund Managers’ annual financial results for the year to September 30. They reported a 5% outflow from their average funds under management (AUM) through the 2025 financial year, a figure that had moderated from the previous year. “As a major player in the South African savings market, we remain exposed to industry trends, and we do not expect to see rapid industry improvements…

THERE is not a single reference against suspended Director of Public Prosecutions, Advocate Andrew Chauke that he exercised his discretion for an ulterior motive or that he is guilty of gross negligence. This is according to Chauke’s legal representative Advocate Tembeka Ngcukaitobi who also told the Nkabine Inquiry that it was dangerous to try and remove a prosecutor from office simply because someone else believed they had made a wrong decision - especially dangerous in a country crippled by crime. The Nkabinde Inquiry, chaired by retired Constitutional Court Justice Bess Nkabinde was established to probe Chauke’s fitness to hold office. The hearing concerns two broad complaints against Chauke. The first relates to the institution of racketeering charges against Major-General Johan Booysen and members of the Cato Manor Unit and the…

THE leaking of Police Minister Senzo Mchunu letter’s disbanding the Political Killings Task Team (PKTT) bolstered controversial North West businessman and alleged information peddler, Brown Mogotsi’s ‘credibility’ that he was in a position to inform tenderpreneur Vusimuzi ‘Cat’ Matlala of the dismantling of the team before it was formally made public. Mogotsi made the remarks when he testified before Madlanga Commission of Inquiry yesterday where he defended his access to sensitive information of the SAPS and crime intelligence, disputing claims that it was due to his dubious relationships with senior police officers or government officials. Mogotsi has been accused of leveraging his relationship with Mchunu, who has since been placed on enforced leave, to access police information and solicit funds from Matlala to fund ANC activities. During…

The Two Oceans Aquarium received the Mayor's Medal for Conservation for its contributions to marine research, conservation, rehabilitation and environmental advocacy, a day after celebrating its 30th anniversary. On receiving the award on November 14, chief executive, Michael Farquhar said: “I am very honoured to have received this award on behalf of the Two Oceans Aquarium. “Thank you to those Capetonians who nominated the Aquarium and to all the visitors who have supported us over 30 years, making our work in conservation, education and research possible. This is a proud moment for the Aquarium and its staff and a wonderful 30th birthday gift.” Mayor Geordin Hill-Lewis said through three decades of dedication to marine conservation, education and research, the Two Oceans Aquarium had "not only created an exceptional facility for…

The Gauteng High Court, Pretoria, has ruled that a used car dealership must refund a buyer for the defective car she bought and that it could not hide behind technical defences. Not only must Sandton Repo Cars refund the consumer the R459,900 she had paid for the car, but it must also pay a fine of R100 000 for non-compliance in an administrative penalty. The National Consumer Commission (NCC) welcomed the judgment, which followed an appeal by Repo Cars against an earlier ruling by the National Consumer Tribunal in favour of the NCC. Sandton Repo contended that the consumer’s complaint had already lapsed when the NCC referred it to the Tribunal. Section 116 of the Consumer Protection Act (CPA) provides that a complaint may not be referred to the Tribunal…

The High Court in Gauteng has delivered a significant ruling in favour of consumer rights, dismissing an appeal by Sandton Repo Cars concerning a contentious vehicle sale. In a case that has garnered attention for its implications on consumer protection practices in South Africa, the court upheld a prior decision mandating the dealership to refund R459 900 to a consumer who purchased a 2018 Volkswagen Golf, which, unbeknownst to the buyer, had sustained damage in a previous accident. The dealership turned to the court after the National Consumer Tribunal ruled in June 2024 that it had violated the Consumer Protection Act by refusing to collect the faulty vehicle and issue a full refund. The consumer purchased the vehicle on May 13, 2020 for R459 900 and was told it…

South Africa’s trade environment remained firmly in negative territory in October, according to the South African Chamber of Commerce and Industry (Sacci) Trade Conditions Survey, released on Tuesday. The composite trade index came in at 46, unchanged from the year-to-date average and still below the neutral 50 level, signalling continued pressure on businesses. Sacci said that both global and domestic economic developments continue to weigh on the sector. “The negative conditions continue and are evident from the Sacci Trade Conditions Surveys for some time now. In October 2025, trade conditions were still in negative territory with the composite survey index at 46 – it is below the neutral level of 50,” it said. In the first 10 months of 2025, the average for the composite trade index was also 46.…

Reinet Investments’ €6.7 billion net asset value (NAV) at September 30, 2025, reflects a 3.7% decrease from March 31, primarily due to lower fair value estimations held by the investment holding company. The company, which is listed in Amsterdam, Luxembourg, and on the JSE, and which is chaired by well-known South African businessman Johann Rupert, stated in its interim results on Tuesday that the estimated fair value had declined in investments in Pension Insurance Corporation Group, Trilantic Capital Partners, TruArc Partners, Asia Partners funds, NanoDimension funds, and other investments. The decline in NAV also reflects a dividend paid and expenses for management and performance fees. “Offsetting these decreases are increases in the estimated fair value of certain investments, including Coatue funds and Prescient funds, gains on certain investments including Trilantic…

BROWN Mogotsi, the alleged political fixer and a comrade of police minister Senzo Mchunu claims being a ‘contact agent’ for the crime intelligence made him privy to sensitive information regarding the SAPS and crime intelligence. He told the Madlanga Commission of Inquiry yesterday that he was also investigating suspicions that KwaZulu-Natal SAPS Commissioner Lieutenant-General Nhlanhla Mkhwanazi was an agent for the Central Intelligence Agency (CIA). Mogotsi claimed that the late South Africa’s ambassador to France, Nathi Mthethwa, also former Police Minister, had told him that he removed Mkhwanazi as an acting national police commissioner on suspicion that he might have been a CIA agent. He also claimed he investigated businessman Vusimuzi "Cat" Matlala at the same time, saying Matlala confessed to paying Mkhwanazi money to solve his problems. During…

As the murder trial of slain wine farmer Stefan Smit hit another delay, the doctor who attended to murder accused Zurenah Smit after she collapsed in the dock on Monday will testify in the Western Cape High Court tomorrow. On Monday, Zurenah appeared alongside her co-accused Derek Sait, when she suddenly collapsed in the dock as State prosecutor advocate Rene Uys read out the indictment. Zurenah was wheeled out of court by emergency services, and afterwards she was hospitalised to receive further medical care. The matter has been marred with delays ahead of the defence having to argue their case, which included an interlocutory application to have the presiding Judge Derek Wille recuse himself. A week before the recusal application, Judge Wille denied Smit and Sait’s Section 174 application, in…

Ireland’s talismanic scrumhalf Jamison Gibson-Park has been a thorn in the Springboks’ side for a number of years. The Leinster No 9 has been central to Ireland’s rise under Andy Farrell, dictating tempo and providing the spark behind their high-paced attacking structure. Gibson-Park is the chess master in their intricate way of playing. Ireland play an outcomes-based attacking game that is planned a few phases ahead to achieve the desired result. They create mismatches between backs and forwards and gaps on the inside or outside of the defensive line for their strike runners to cause the most damage. Last year, during their two-match series in South Africa which ended in a drawn 1-1 series, Ireland managed to combat the Springboks’ famed rush defence with clever inside balls that caused a…

The Proteas Test team have a song that they sing when coming together for a picture at the end of a big win or a triumphant series. “We make you look good, we make you look good! Shukri Conrad, we make you look good!” has rung out on the field with plenty of spontaneous laughter over the last couple of years. It is clearly an inside joke, with the players having a bit of fun at their coach’s expense. The song, however, is draped in sarcasm, with the players actually celebrating Conrad’s contribution to their performances, especially during the last World Test Championship cycle, when the Proteas managed to win seven Test matches in a row before beating Australia in the final at Lord’s in June this year. Conrad, together…

South Africa’s flagship reform programme is facilitating unbundling at Eskom and Transnet South Africa’s flagship reform programme, Operation Vulindlela, has helped unlock about R500 billion in private-sector investment, largely driven by new electricity generation projects and reforms in telecommunications, including the long-awaited auction of 4G and 5G spectrum, which has opened the door to cheaper communication. But this progress, while significant, is still far from the investment volumes the country needs, said Rudi Dicks, head of the project management office in the Presidency and co-lead of Operation Vulindlela. Speaking during the latest PSG Think Big webinar on Tuesday, Dicks said the next phase of the program, Operation Vulindlela 2.0, is accelerating structural reforms at Eskom and Transnet, though the process remains highly complex. “We require not just R500bn, we require…

Minister of Agriculture John Steenhuisen has formally approved the inclusion of indigenous crops and medicinal plants in the list of declared agricultural products, a move he says will unlock the economic potential of a long-marginalised sector valued at an estimated R12 billion a year. The Department of Agriculture (DoA) confirmed that the approval, granted on 21 July 2025, follows a request from stakeholders within the agricultural industry. The newly recognised products will now fall under the Marketing of Agricultural Products Act, enabling producers to benefit from statutory measures and structured market development. According to the National Agricultural Marketing Council (NAMC), indigenous crops and medicinal plants currently contribute less than 3% to South Africa’s annual agricultural output, which stands at approximately R450bn. Of the R12bn estimated value, about R3bn is attributed…

Last week, on the 29th of October 2025, young climate leaders, policymakers, and negotiators gathered at the COP30 Youth Dialogue hosted by the Local Conference of Youth (LCOY) South Africa 2025, supported by the Presidential Climate Commission (PCC) and funded by the European Union. The event, themed “Towards a Compact for the Future: Solidarity, Sustainability and Equality,” could not have come at a more critical moment. With South Africa preparing to host the 2025 G20 Leaders’ Summit and Brazil (and the rest of the world) gearing up for COP30, the conversation turned to the central issue that has haunted global climate politics for decades: money. In the 1996 film Jerry Maguire, a desperate sports agent is confronted by his client’s now-iconic demand: “Show me the money.” The phrase, though simple,…

SOUTH Africa’s G20 presidency provides the continent with an “unprecedented opportunity” to highlight the African Agenda and the concerns of the Global South inside the world’s foremost platform for international economic cooperation, says Deputy President Paul Mashatile. Mashatile officially opened the three-day G20 Social Summit which brings together civil society voices and is the precursor to the two-day G20 Leaders’ Summit. He said the gathering should be used to raise awareness, enhance accountability, and coordinate effective action. Mashatile further advocated for Africa to realise sustainable peace and stability and true independence, adding that instability has kept Africa on the economic backfoot. “We believe it is time for Africa to advocate for lasting solutions and lasting peace and commitment to resolving conflicts through negotiated political settlement. When we achieve peace and…

Fresh off consecutive victories in Mexico and Brazil, championship leader Lando Norris has tempered expectations ahead of the Las Vegas Grand Prix, admitting that McLaren could face their toughest weekend of the season under the Strip’s cold night lights. Norris, who now holds a 24-point advantage over teammate Oscar Piastri, was blunt when asked whether Las Vegas’ conditions might help McLaren this year. “Hinder, for sure. I think it was our worst race last year, so I’m not really looking forward to it,” Norring told Sky Sports. McLaren struggled in Vegas in 2023, with Norris finishing sixth and Piastri seventh despite having a title-winning car. The low-temperature sessions and unusually slippery surface exposed weaknesses McLaren has worked to address over the past 12 months. “We’ve been trying to work quite…

Former UFC champion Dricus du Plessis still remembers the first time he stepped into an Extreme Fighting Championship (EFC) arena — an experience he describes as electrifying and unforgettable. That moment would later become a driving force behind his KNOX brand partnering with the EFC to further elevate professional mixed martial arts (MMA) in South Africa. The EFC – in partnership with KNOX Hydrate and the City of Cape Town – has officially announced the KNOX Legacy Series, a world-class mixed martial arts event set to debut at GrandWest Casino and Entertainment World in late February next year. The inaugural showcase will feature some of the Western Cape’s top athletes facing elite international opponents, marking a major return for professional MMA in Cape Town after the EFC last staged an…

Chiefs aim to break Egyptian curse in CAF Confederation Cup KAIZER CHIEFS will be looking to do away with a somewhat wretched record in Egypt when they kick-start their CAF Confederation Cup group campaign this weekend. Amakhosi are on a mission to win their second continental title since being crowned CAF Cup Winners’ Cup champions back in 2001. To do that, they will have to get the better of two strong opponents from the land of the Pharaohs starting with El Masry, who they face away this weekend. With former champions Zamalek also in their group, the Glamour Boys face a tough challenge in their quest to get back to the top table of African football, Chiefs having last been to a continental final back in 2021 when they suffered…